The Finance Minister made a deliberate attempt to toe the June 4 Presidential address to the joint session of the parliament. The economic survey does not appear to figure in the operative part.
No "big ticket reforms" on the immediate term. A committee to go into petroleum and petroleum products pricing policy. Disinvestment of the PSUs, no specific announcement. One will have look into the detailed break-up of the revenue statement. Specifically asserted that banking and insurance industries would remain in public sector. Disinvestment would mean shares to the "public". FM has talked of modifying subsidies for fertilisers and passing on subsidies "directly" to the agriculturalists. Does it mean cash subsidy? In his prep talk the FM talked of three challenges: Jacking up the growth rate. Making growth inclusive - vertically and horizontally. Improving the government/public delivery system. Could not locate anything relating to the third element. The introductory part had the following sequence: Infrastructure Agriculture Export Concession for print media (a bribe!) ... Food Security Act; NREGA; Bharat Nirman; time extension of farm loan waiver; women's education; special focus on Dalits and minorities; rural roads, electricity,housing; social security schemes etc. etc. specially emphasised. Rs. 120 Cr. for Unique Identity Number this year. Reinforcement of police, paramilitary and military. No change in Corporate Tax. Personal tax, marginally reduced (effectively). Gross expenditure proposed: Rs. 10,20,838 Cr. Fiscal deficit: 6.8% (up from 2.5% proposed last time). So the recommendations of the Eco Survey goes down the drain!! (As had been anticipated.) --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To post to this group, send email to greenyouth@googlegroups.com To unsubscribe from this group, send email to greenyouth+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/greenyouth?hl=en-GB -~----------~----~----~----~------~----~------~--~---
